Monthly Archives: August 2019

More and more Dutch people are taking over their existing loan (s). In this way they benefit from lower monthly payments and more benefits from re-transfer.

Borrowing money becomes cheaper

Not only is the mortgage interest rate falling, but also the interest rate for a consumer credit. This means that you can now borrow money cheaper for a consumer purchase, for example a car. Was the lowest interest rate for a personal payday loan of € 10,000. still at 8.3% in 2011 (source: Moneyview). In 2018 this interest rate fell to 5.1% (source Cratchit family).

Transfer existing loan

Consumers who already have a loan can also benefit from the low borrowing rate. By taking over your existing loan you can reduce the monthly payments or shorten the term. When transferring, you take out a new loan with which you can pay off the old loan on new and better terms.

Just like when you take out the mortgage.

You usually do not pay a fine for transferring a consumer credit. With a revolving credit, overdraft on a payment account, a credit card or a mail order credit you can pay off without penalty. A fine is charged for some personal loans but this may not exceed 1%.

That is different with the penalty interest of a mortgage. In addition, the transfer of a consumer is quickly arranged because there is no advice and notary involved.

Transfer existing loan in 4 steps:

Collect the details of your current loan (s). Also consider mail order credits, overdraft and credit cards.

Compare all loans and choose a new lender.

Request 1 or more quotes for your current loan (s).

Choose the cheapest payday loan and save.

Extra benefit with loan refinancing

In addition to lower monthly charges, rescheduling a loan has the following benefits:

Standing in red, credit card and mail order are expensive loans. A revolving credit is cheaper for extra spending room.

By combining several (small) loans, your savings will increase. It is also easier to keep an overview with a loan.

Refinancing offers the opportunity to update the terms of the loan. These too have improved in recent years.

In general, the older the credit, the greater the chance that you can save on this.

It is also possible to opt for a longer duration. This can additionally lower your monthly costs.

An accident happened faster than you think. Illness also dares to ruin our lives at the most unexpected moments. And as if these personal setbacks are not enough, they are often accompanied by a loss of income.

Those who only have to fall back on social security risk running into financial problems. It is therefore recommended to take out additional insurance against loss of income following incapacity for work. This can be done perfectly, for example, by linking an additional guarantee to your debt balance insurance. Discover the options here!

Insuring against loss of income: a perfect supplement to statutory reimbursements

If, due to adversity such as illness or disability, you are left without a job, you are of course entitled to benefits within the legal framework of social security. However, this benefit is limited and often not sufficient to meet your personal financial needs . By insuring you additionally against loss of income , you get rid of that uncertain factor in your career.

To enjoy that extra protection, you can take out a guaranteed income insurance, but there are other options. Do you have a home loan or other loan ? Then it is worth taking out an additional guarantee on top of your debt balance insurance. Also with this you can protect yourself perfectly against loss of income!

Additional guarantees: not mandatory, but interesting

While a balance insurance only covers death and is therefore primarily aimed at the financial protection of your relatives , additional guarantees are a security for the entire family , including yourself! These are therefore additional insurance policies linked to your debt balance insurance (and therefore cannot be taken out separately without a debt balance insurance).

These guarantees are not mandatory, but they are strongly recommended, since social security is less and less guaranteeing a carefree future .

Insure yourself against loss of income

To insure yourself against loss of income, you have the choice of two guarantees:

Additional guarantee “Incapacity for work” : maintains your standard of living when you are no longer able to carry out your job due to illness or accident.

“Involuntary Unemployment” additional guarantee : indemnifies you from headaches if you suddenly run out of work. No superfluous luxury in times of economic crisis.

Do not hesitate to contact us for more information about these additional guarantees or about a general balance insurance. We are ready for you!